Wells Fargo & Company Issues Positive Forecast for Olin (NYSE:OLN) Stock Price

Olin (NYSE:OLN - Free Report) had its price target upped by Wells Fargo & Company from $19.00 to $22.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company's stock.

Several other research analysts also recently issued reports on the stock. KeyCorp cut their target price on Olin from $40.00 to $34.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. Mizuho set a $23.00 price target on shares of Olin in a research note on Tuesday, April 15th. Citigroup lowered their price objective on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Piper Sandler lowered their price target on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, Royal Bank of Canada dropped their target price on shares of Olin from $28.00 to $25.00 and set a "sector perform" rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $28.60.

Olin Stock Up 0.8 %

NYSE OLN traded up $0.18 during trading on Tuesday, reaching $21.59. The company's stock had a trading volume of 151,743 shares, compared to its average volume of 1,575,849. The stock has a market capitalization of $2.48 billion, a PE ratio of 23.99 and a beta of 1.56. The business has a 50-day moving average price of $22.52 and a 200-day moving average price of $30.98. The company has a current ratio of 1.27, a quick ratio of 0.77 and a debt-to-equity ratio of 1.32. Olin has a 1-year low of $17.66 and a 1-year high of $57.10.

Olin (NYSE:OLN - Get Free Report) last announced its earnings results on Thursday, May 1st. The specialty chemicals company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.10) by $0.14. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.58 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. On average, research analysts forecast that Olin will post 1.38 earnings per share for the current fiscal year.

Olin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, May 15th. Olin's dividend payout ratio is presently 156.86%.

Institutional Trading of Olin

Several hedge funds have recently added to or reduced their stakes in OLN. Blue Trust Inc. lifted its position in shares of Olin by 34.3% in the 4th quarter. Blue Trust Inc. now owns 2,887 shares of the specialty chemicals company's stock worth $98,000 after purchasing an additional 738 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Olin by 55.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 143,062 shares of the specialty chemicals company's stock worth $4,835,000 after buying an additional 51,051 shares during the period. KBC Group NV boosted its position in Olin by 82.9% during the 4th quarter. KBC Group NV now owns 5,461 shares of the specialty chemicals company's stock valued at $185,000 after acquiring an additional 2,476 shares in the last quarter. Mariner Investment Group LLC bought a new position in shares of Olin in the 4th quarter worth approximately $355,000. Finally, LPL Financial LLC lifted its stake in shares of Olin by 218.9% in the 4th quarter. LPL Financial LLC now owns 138,477 shares of the specialty chemicals company's stock valued at $4,681,000 after purchasing an additional 95,054 shares during the period. 88.67% of the stock is owned by institutional investors.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.